The Enforcement Directorate (ED) has made its third arrest in reference to the Malegaon money-laundering probe the place the accused allegedly misused financial institution accounts of Malegaon residents and allegedly withdrew Rs 196 crore in a interval of 5 months. The ED on Thursday arrested Seraj Ahmed Memon, who was beforehand arrested by Malegaon police. Particular Decide AC Daga despatched Memon to ED’s custody until December 27.
The company claimed that Memon and his accomplices used id paperwork of Malegaon locals and created shell entities in banks. “These paperwork had been collected by Seraj Ahmed within the guise of giving some monetary profit/job to the complainant and different such individuals,” the ED mentioned.
The ED alleges that financial institution accounts had been opened in a number of banks with these id paperwork and cash was withdrawn in money and crores of rupees had been remitted outdoors the nation. The ED had beforehand arrested Bhesaniya Vasim Valimohammed, a Surat-resident, and Nagani Akram Mohammad Shafi within the case.
Why must you purchase our Subscription?
You need to be the neatest within the room.
You need entry to our award-winning journalism.
You don’t need to be misled and misinformed.
Select your subscription package deal
